EPISODE #086

THE 7 BIGGEST TAX INCREASES PROPOSED BY THE BIDEN ADMINISTRATION

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5 Ways Your Wealth Is Under Attack book

5 WAYS YOUR WEALTH IS UNDER ATTACK

If you want to stop the attack, you'll want to get your copy.

The 7 Biggest Tax Increases

In this episode, John explores the 7 biggest tax increases proposed by the Biden administration. He discusses what changes can be expected. He also shares when these proposed changes may happen and what you can do to mitigate or reduce their impact.

John is the author of It’s Your Wealth – Keep It. He has lectured extensively on financial planning and is a recipient of the Five StarSM Wealth Manager Award.

Don’t miss these takeaways:

  • The effective date that Biden released is taxable years after December 31 of 2021, and if you have a September close for your C corporation, the effective date would be in January of 2021
  • Watch out for the capital gains and dividend rate
  • Be mindful of retro tax
  • Gifts in death triggers—possibly creating taxable events
  • Dynasty trusts—any unrealized gain inside of a trust, partnership or other non-corporate entity for 90 years could be deemed taxable
  • Repeal of 1031 tax-free exchanges

And more!

Next steps? If you’re an existing client, schedule a Wealth Curve Catch-up call here. If you are new to Smallwood Wealth, schedule a Wealth Curve Conversation here.

You can also connect with us on social media, or call us at (800) 797-1000. Set up a free, no-obligation 30-minute phone call with a qualified advisor. We’ll help you understand your current plan and how you can protect your financial future.

* This award should be subjectively bestowed, and the process of its receipt readily explained by objective data.
Investment Advisory Services provided by Smallwood Wealth Investment Management, LLC, an SEC registered investment advisor. Headquartered at 199 Broad Street, Red Bank NJ 07701-2056. Securities offered through Purshe Kaplan Sterling Investments, Member FINRA/SIPC Headquartered at 80 State Street, Albany, NY 12207. Purshe Kaplan Sterling Investments and Smallwood Wealth Investment Management, LLC are not affiliated companies.

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7 Biggest Tax Increases Proposed By The Biden Administration

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